Vietnam's wealth is forecast to grow by 125% in the next 10 years.

Vietnam's assets are forecast to grow by 125% in the next 10 years. — Vietnam is an increasingly popular manufacturing hub for multinational technology, automotive, electronics, clothing and textile companies. Photo: Hai Nguyen

Vietnam has long been considered a rising star among emerging economies, despite its current classification as a frontier market. Market observers consider Vietnam to be one of the safer markets in the Asia-Pacific region.

While that is not a guarantee of reduced volatility or growth in the stock market, one thing that is clear is that the wealth of Vietnamese people is increasing, and that could be a positive long-term signal.

“The Southeast Asian nation is forecast to see a 125% increase in wealth over the next 10 years, which would be the largest wealth growth of any country in terms of GDP per capita and millionaires,” Andrew Amoils, an analyst at New World Wealth, told CNBC.

Vietnam offers investors other benefits, some of which have not yet been fully appreciated. These include favorable demographics and geography as well as low labor costs.

More jobs reinforce the argument for Vietnam’s growing wealth, while also contributing to a rise in per capita GDP, two factors that could support a long-term rally in Vietnamese stocks.

“Vietnam’s stock market is outpacing its neighbors and attracting a trickle of foreign investment for the first time in months, as the country’s banks bounce back from the credit crunch,” The Star reported.

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